Copper prices may rebound slightly Continue to pay attention to downstream purchases

In terms of external trading, LME March copper opened low at the lowest $5625 in the morning, fell slightly higher to $5611 and fluctuated in a narrow range, the price rose straight to $5677.
5 before the afternoon, and then the price fell slightly, and the price rebounded again in the afternoon, and hit an intraday high of $5669, and the Asian market closed at $5663, up $38, or 0.
68%.

In terms of the market, the market trading has picked up during the mainstream trading session in the morning, holders insist on premium prices, reluctance to sell is still obvious, downstream users insist on bargain hunting, downstream procurement and stock demand has improved, the overall trading is more active, but the overall market buying interest is limited, and the source of good copper continues to be favored
.
Among them, good copper B40-B50 yuan / ton, flat water copper B00-B10 yuan / ton, wet copper C80-C70 yuan / ton
.

In terms of news, the central bank's slight water release effect appeared, non-ferrous metals except tin have risen sharply, and China's May import and export data released by China are stronger than expected, indicating that the economic situation is not as weak as expected, and at the same time, short-term affected by weather factors, Chile copper supply is affected, short-term may rebound
.

From the futures disk point of view, Shanghai copper fell below the moving averages within the day, and here is also the descending flag descending trend line position, the current KDJ dead cross but J line turned, MACD again golden cross, copper market may launch a slight rebound, it is expected that the upper short-term average of 45600 yuan is under pressure, continue to pay attention to downstream procurement
.